EPV Energy – the forerunner in zero-emission energy

In 2022, the share of emission-free energy sources in EPV’s electricity production was 87.6 per cent.

70 years of responsible energy generation

EPV Energy Ltd (EPV) is a Finnish energy company that generates and acquires both electricity and heat and supplies them for its shareholders, i.e. Finnish energy companies, at a production cost price. This is known as the Mankala principle. It enables shareholders to participate in extensive energy projects that have low production costs.

EPV has 70 years of experience in responsible energy generation. We invest in emission-free and reliable energy generation with determination and purpose. At EPV Energy, we have greatly improved our energy generation portfolio in recent years, resulting in significant reductions in carbon dioxide emissions. According to our strategy, EPV’s energy production will become completely emission-free by the end of the 2020s. In 2022, the share of emission-free energy sources in EPV’s electricity production was 87.6 per cent.

EPV’s strategy is called New Electricity Revolution. At the centre of this strategy is zero-emission electricity, whose production, storage and use are controlled with new technologies. The current state of our planet requires many great changes, including the way energy is produced, and the pace of driving down emissions must be accelerated. As a socially responsible company, EPV will continue to speed up these measures. This strategy models the modernisation of the entire society’s energy generation system.

In the future, new electricity will be generated using the zero-emission energy sources of solar, wind, hydro and nuclear power – the sources at the heart of our strategy. In addition, we will utilise emission-free raw material flows, such as forest energy, and circular economy products, such as industrial producer gases. With new electricity, we are also helping other operators to become emission-free.

In 2022, the Group’s total power procurement was 4,136 GWh. This corresponds to approximately 5.1 per cent of the total electricity consumed in Finland. Last year, a larger proportion of energy than ever was generated emission-free:

  • Nuclear power 1,395 GWh
  • Hydropower 440 GWh
  • Wind power 1,024 GWh
  • Biofuels 293 GWh
  • Coal 122 GWh
  • Peat 344 GWh
  • Industrial gases 169 GWh 
  • Other fossil fuels 4 GWh 
  • Market price electricity 346 GWh

In 2022, the average carbon dioxide (CO2) emissions of the electricity supplied by EPV were 118 g/kWh.

The average emissions of the electrical energy acquired through generation shares in 2022 were:

  • Nitrogen oxide emissions 105.6 mg/kWh
  • Sulphur dioxide emissions 875.7 mg/kWh
  • Particle emissions 4.1 mg/kWh

EPV’s key business figures for 2018–2022

Assets MEUR (balance, assets)
Non-current assets630.49625.12643.49730.23840.17
Non-current receivables
Current receivables66.2069.9580.7488.17104.10
Receivables, marketable securities,
cash and cash equivalents
Liabilities MEUR (balance, liabilities)
Minority interest
Compulsory reservations3.50
Non-current liabilities
Current liabilities
Total797.24827.46836.41879.60977.041 127.41
In 2022, the share of emission-free energy sources in EPV’s electricity production was 87.6 per cent.